Ottawa invests $8.3M in diversifying Canadian beef trade
The bulk of the investment is aimed at creating opportunities to develop international markets
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The Government of Canada announced it is investing $8.3 million in six projects that will help support Canada’s beef industry in becoming more competitive.
The announcement was made by Marie-Claude Bibeau, Minister of Agriculture and Agri-Food, at the Calgary Stampede.
The largest portion of this investment, $5.3 million, is going towards Canada Beef to grow beef sales in important international markets, by expanding programs with retail partners and increase foreign consumer confidence in Canadian beef.
Bibeau said the funding is intended to help the Canadian beef sector capitalize on the trade agreements Ottawa has with Europe, the Asia-Pacific, and North America.
In 2018, the Canadian beef industry (including veal) exported to 60 countries with a value of $2.75 billion.
Canadian meat processors were baffled by China’s decision to ban all Canadian meat products exported to China as of June 25.
Chinese officials said Chinese customs inspectors had detected residue from a restricted feed additive, called ractopamine, in a batch of Canadian pork products. A subsequent investigation revealed that the official veterinary health certificates attached to the batch of pork exported to China were counterfeit.
The move came amid the diplomatic dispute over the December arrest of Huawei executive Meng Wanzhou in Vancouver.
Bibeau told The Canadian Press that Canada has submitted a plan with China in the hopes of reassuring the country to re-open the market soon.